Oroco Announces New And Updated Drill Intercepts
September 30, 2009
VANCOUVER, British Columbia – (September 30, 2009) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to provide an update on and results from its Cerro Prieto Project in Sonora State, Mexico.
Since beginning the Phase 2 drill program on August 9, 2009, two drills have completed a total of approximately 3,000 meters of diamond drilling with 14 holes either completed or currently underway. Drilling continues to intersect mineralized zones over the more than two kilometers of strike length tested to date. Drill hole locations plotted on a longitudinal section of Cerro Prieto may be viewed at : “https://orocoresourcecorp.com”
Subsequent to the Company’s last press release of September 17, 2009 in which assay results for drill hole CP029 were reported, the Company has received additional assays from the hole, with the result of lengthening the mineralized zone. Assay results have also been received for drill holes CP030 and CP031. Highlights of the assays for CP029, as updated, and CP031 are presented in the following table.
| Hole |
From (m) |
To (m) |
Apparent Thickness |
True Thickness(m) |
Au (g/t) |
Ag (g/t) |
Pb (%) |
Zn (%) |
| CP029 |
187.0 |
194.0 |
7.0 |
7.0 |
1.464 |
2.5 |
0.18 |
0.48 |
| incl |
188.5 |
189.5 |
1.0 |
1.0 |
9.070 |
5.3 |
0.25 |
0.64 |
| incl |
187.0 |
194.0 |
7.0 |
7.0 |
1.464 |
2.5 |
0.18 |
0.48 |
| incl |
188.5 |
189.5 |
1.0 |
1.0 |
9.070 |
5.3 |
0.25 |
0.63 |
| |
|
|
|
|
|
|
|
|
| CP030 |
No Significant Assays |
| |
|
|
|
|
|
|
|
|
| CP031 |
204.0 |
240.0 |
36.0 |
31.0 |
1.278 |
2.3 |
0.33 |
1.13 |
| incl |
220.5 |
231.0 |
10.5 |
9.0 |
3.782 |
5.6 |
0.68 |
2.43 |
| incl |
220.5 |
237.0 |
16.5 |
14.2 |
2.432 |
4.5 |
0.61 |
2.09 |
Hole CP029 was drilled to intersect the mineralized zone on section 850N, 100 meters below CP026. CP031 also targeted the mineralized zone at section 850N, 100 meters below CP029.
CP030 targeted the strongly anomalous surface samples at the northern end of the property (section 2150N) at depth, but failed to intersect a mineralized zone. Another hole, drilling much shallower than CP030, is currently being drilled in an attempt to identify the complex structural pattern in the immediate area.
The Company has now drilled and received assay results from holes CP023, CP025, CP026, CP027, CPO29 and CP031 for a distance of 300 meters along strike immediately to the north of the oxide mineralized zone defined in the 2008 drill program, with the result of extending the total drilled length to 900 meters with a maximum depth of 350 meters. Highlights to date from the drilling on this 300 meter extension of the oxide mineralized zone are as follows:
| Hole |
Section |
From (m) |
To (m) |
Length(m) |
True Thickness(m) |
Au (g/t) |
Ag (g/t) |
Pb (%) |
Zn (%) |
| CP026 |
850N |
131.0 |
146.6 |
15.6 |
14.0 |
0.324 |
65.2 |
0.10 |
0.28 |
| incl |
|
140.4 |
146.6 |
6.2 |
6.0 |
0.686 |
156.2 |
0.11 |
0.25 |
| |
|
|
|
|
|
|
|
|
|
| CP029 |
850N |
187.0 |
209.5 |
22.5 |
22.5 |
0.718 |
0.9 |
0.29 |
0.66 |
| incl |
|
187.0 |
194.0 |
7.0 |
7.0 |
1.464 |
2.5 |
0.18 |
0.48 |
| |
|
|
|
|
|
|
|
|
|
| CP031 |
850N |
204.0 |
240.0 |
36.0 |
31.0 |
1.278 |
2.3 |
0.33 |
1.13 |
| incl |
|
220.5 |
231.0 |
10.5 |
8.5 |
3.782 |
5.6 |
0.68 |
2.43 |
| |
|
|
|
|
|
|
|
|
|
| CP027 |
950N |
82.5 |
96.0 |
13.5 |
12.2 |
0.826 |
10.2 |
0.09 |
0.22 |
| incl |
|
87.0 |
93.5 |
6.5 |
5.9 |
1.663 |
19.1 |
0.14 |
0.25 |
| |
|
|
|
|
|
|
|
|
|
| CPO23 |
1050N |
103.0 |
116.0 |
13.0 |
8.7 |
2.800 |
51.5 |
0.24 |
0.50 |
| incl |
|
104.1 |
108.5 |
4.4 |
3.0 |
7.717 |
17.6 |
0.35 |
0.66 |
The Company is particularly encouraged by the continuity of the Cerro Prieto mineralized structure up to Section 1050N and the grade of the mineralized intersections. The Company is continuing to step out its drilling in 100 meter intervals in order to extend the Cerro Prieto mineralized zone and increase the indicated and inferred resource identified by the Company’s 2008 drill program.
About Oroco
Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold bearing oxide zones of its Cerro Prieto project, a polymetallic (Au-Ag-Pb-Zn) project in Sonora State, Mexico.
The Cerro Prieto Project consists of the 100% owned, 2,723 ha, San Felix, San Francisco and Cerro Prieto concessions and 4,120 ha of the connecting Argonauta 5 Fraccion 1 concession to which the Company holds an option to purchase (see May 14, 2009 news release). During the first field season in 2008, the Company drilled 5,975 meters of core and tabled a NI 43-101 compliant resource estimate together with the results of a preliminary metallurgical study (See May 11, 2009 news release).
The Company is moving the Cerro Prieto project forward with the rapid development of mineral resources, further metallurgy studies and the development of a preliminary assessment by an independent mining engineering firm.
Qualified Person
Kenneth R. Thorsen, B.Sc., P. Geo., is a director of the company and is a ‘qualified person’ for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators. He has verified the data (including sampling, analytical and test data) and prepared or supervised the preparation of the information contained in this news release.
Quality Assurance & Control
The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. Split core is transported to the ALS Chemex laboratory in Hermosillo where it is crushed and pulverized, with pulps sent to the ALS Chemex laboratory in Vancouver, B.C. for assaying. The other half of the core is retained for future assay verification. The QA/QC policy includes the chain of custody monitoring, insertion of blanks, standards and duplicates in the initial samples submitted. The laboratory provides an additional internal control program.
For further information, please contact:
Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.
Tel: 604-688-6200
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
